The Euro confirmed it is building the triangle that we suggested yesterday, after it dropped only pips below the lower triangle line, and then it bounced back and rose until it touched the upper line in a very accurate fashion (please refer to the attached chart). The price is still trading within the triangle exactly as it was suggested yesterday, waiting for a real and decisive break for one of its limits. These limits have narrowed towards 1.3658 & 1.3581

We can only hope to end this boredom with a break of one of these levels. If the resistance at 1.3658 is broken, we expect the Euro to jump and test the last week's at 1.3734. And if this important resistance is broken too, we will see the Euro flying to 1.3861. On the other hand, if the support at 1.3581 is broken, we expect a test of the rising trend line from 1.3442 as a first target (this line is currently running at 1.3477), and if broken we will reach a fresh cycle low at 1.3379.

Support:
* 1.3581: the lower limit of the triangle formation.
* 1.3477: the rising trend line from 1.3442 on the hourly charts.
* 1.3379: Apr 14th high.

Resistance:
* 1.3658: the upper limit of the triangle formation.
* 1.3734: Mar 3rd top.
* 1.3861: Jan 26th low.